Word: waltons
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Welcome to Wal-Mart in China, where the late Sam Walton has a new image: the Mao of retailing. There, as in Walton's home state of Arkansas, having the right merchandise is paramount. So the store in Shenzhen, just north of Hong Kong, is crowded with tanks of crabs, fish, frogs and shrimp, which can be taken home wiggling or be expertly gutted and cleaned on the spot...
...grocery and convenience stores with Neighborhood Markets (call 'em Small-Marts). Wal-Mart is building its first urban Supercenter, in downtown Dallas. And without fanfare it is testing used-car sales alongside one of its Houston stores. "It's surprising how much room we have for growth," says Robson Walton, 58, Sam's son and the company's nonexecutive chairman. "I'm not trying to be flippant," adds Lee Scott, 52, Wal-Mart's CEO. "But simply put, our long-term strategy is to be where...
...Walton used to visit all his stores using a propeller-driven plane. Now it takes a fleet of 20 jets just to keep management in touch. Its headquarters force, 10,000 strong, lately includes a group of artists whose sole function is to design logos and labels and fulfill other graphic needs. That's quite an indulgence for a company so comically cheap that it still puts tin coin boxes next to its coffee pots, demanding 10?...
...internalized by all employees, and they can tell you the story of his great march forward from humble rural roots to become a great leader. And by the way, would you like us to skin that frog for you? Welcome to Wal-Mart in China, where the late Sam Walton has a new image: the Mao of retailing. And where, as in Arkansas, stocking exactly the right merchandise is still paramount. So the store in Shenzhen, just north of Hong Kong, is crowded with tanks of crabs, fish, frogs and shrimp, which can be taken home wiggling or be expertly...
...deep my love for Wal-Mart is ... ") Wal-Mart plans to increase this year, from 25 to 40, the number of stores in China. In China's three main cities, according to a McKinsey study, increasing wealth will support 250 hypermarkets among the competing retailers. The company introduced the Walton Institute, a program to teach local managers the master's Three Basic Beliefs (respect for the individual, service to our customers, and to strive for excellence), the Sundown Rule (any employee or customer request must be addressed before sundown) and other cultural foundations. Walking into a Wal-Mart Supercenter...